MM
Motlatsi M

1 reviews | Active since Apr 2018

18 Apr 2018, 10:54

Account settled but no paid up letter issued by Vericred

I received a settlement offer to settle my RCS account (Ref ********** ********** ) by 30 March 2018 from Vericred which was R19589.00. I was given a Pay@ Reference number to make the payment. On the 26 March 2018 I went to make payment at a Pay@ paypoint at Checkers and I was advised that the maximum transaction amount is R15000 so I have to split the settlement amount and I then paid R15000 and R4589 respectively. Vericred subsequently said they cant issue a paid up letter immediately because I was only supposed to make 1 payment despite receiving the full amount before the 30th March through a payment method I got from them.

4 weeks later Vericred has still not sent me a paid up letter as promised up to this point and my credit report has not been updated with the payment that was made. After more than 10 telephone calls in the last 3 weeks I have been promised and told that the letter will be issued as soon as it is received from Head office but nothing has come through and I need it ASAP.

0
Replies (2)
VeriCred Collections
VeriCred Collections's reply23 Apr 2018, 13:41
Official

Good day, thank you for your report. Please note that in order for a discount settlement to be valid, a once off/single payment needs to be effected as correctly mentioned by you. In your case this did not materialise, and under the circumstances we had to go up to our client RCS to get authority for the discount. We are currently awaiting their feedback. It is a process which needs to be followed and to be adhered to. As soon as they have allocated the funds paid over to them and authorised the discount settlement, we shall be in a position to finalise the account and issue a 'clearance letter'. Regards,VeriCred Collections

MM
Motlatsi M's update23 Apr 2018, 14:50
Reviewer Update
1stly, Vericred provided details to make a payment via Pay@ system; if other clients had made payments the same way before, then they (Vericred) should have known that the maximum payment limit is R15000. 2ndly, Vericred never indicated that if more than a single payment is made the settlement wont be valid, so I continued to make the payment in two parts at the same time to settle the quoted figure. 3rdly, Payment was made on the 26th of March 2018 and even today I am still waiting for funds to be allocated? 4 weeks to allocate funds doesn't make sense to me. Finally, when was the last time RCS was contacted by Vericred to follow up on this issue and can the proof be provided? My credit record still shows that I haven't made ANY payment 4 weeks after payment was made.